If you’ve recently been in a car accident in Colorado and sustained injuries, you may be considering whether a Denver car accident lawyer can assist with pursuing compensation and how much that might involve.
Medical expenses and ongoing financial obligations can quickly accumulate after an accident. Although there’s no guarantee of receiving compensation, you may be eligible to file a claim for medical expenses, lost wages, and other related damages. With that in mind, what is the average car accident settlement in Colorado?
While There’s No One-Size-Fits-All Answer, Average Settlements in CO Are Around $10,000
Every case is different, so there’s no standard dollar amount when it comes to a car accident settlement. Settlement outcomes vary widely — some claimants receive modest compensation, others receive substantial settlements, and some may not receive any compensation at all.
According to a survey conducted by Martindale-Nolo, a legal information platform, the reported average payout for an accident is $8,200; if the accident caused bodily injury, the average settlement increases to $29,700. However, remember that these are averages, and actual amounts vary.
What Affects a Potential Settlement Amount?
When insurance companies (or courts) calculate a settlement, they look at several things:
Medical Expenses
If you received treatment for injuries — even minor ones — the cost of care will be considered in any potential settlement. Needing long-term care or physical therapy could increase the amount significantly.
Pain and Suffering
Quantifying non-economic damages such as pain and suffering can be challenging, but documenting the accident’s impact on your life is a part of the insurance claim process and can influence the settlement offer.
Lost Wages
If you missed work or can’t return to your job because of your injuries, you may be able to claim lost income, depending on the documentation and circumstances.
Liability Determination
Who caused the accident? If the other driver is clearly at fault, their insurance company will likely cover more of your expenses. But questions about proving fault can seriously reduce the settlement.
Colorado’s At-Fault Rule
Colorado follows a modified comparative negligence rule. That means if you’re partially at fault for the accident, the insurance company or court could reduce any settlement by that percentage. You likely won’t receive compensation if you’re more than 50% at fault.
Expect To Negotiate With the Insurance Company
Insurance companies are in the business of saving money. Even in cases with clear liability, the insurance claim process can involve complex negotiations. Insurance companies may seek to minimize claim payouts, so it’s important to understand your rights and prepare to negotiate.
For example, they may attempt to minimize your injuries or shift blame. An experienced attorney can clarify your legal options and assist you throughout the compensation process.
Get Legal Help From Experienced Denver Car Accident Attorneys
The average car accident settlement in Colorado ranges widely, and your unique circumstances will determine the outcome of your case. If you’re involved in any crash, even a rental car accident, it’s advisable to keep thorough records of medical treatment, employment impacts, and related expenses, and contact Flesch Law Denver Injury Accident Lawyers to learn more about your legal options.
Call us at (303) 218-9394 for a free consultation!